RBC Capital analyst Charles Weston keeps an Outperform rating on Abcam with a $23 price target after the company disclosed it has “received strategic inquiries from multiple parties over recent weeks.” Abcam’s leading position “within a high-margin and defensive part of the biological research value-chain may well make it an interesting candidate,” the analyst tells investors in a research note. The firm believes the company has additional potential to leverage its digital platform with new product categories as well. Abcam did not benefit from the bioprocessing tailwind enjoyed by many life science tools peers over the last few years, and equally now does not face the customer destocking headwinds, which may also be attractive for potential bidders, says RBC. It says most investors view Thermo Fisher (TMO), Danaher and Merck KGaA (MKGAY) as the most likely suitors.
Published first on TheFly
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